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28 November 2016

Masthaven Reduces Rates On Its Bridging Finance Product Range

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Today, Masthaven announces its refreshed Bridging Finance product range, as it opens as a new retail challenger bank. 

The bank is offering highly competitive products combined with the exceptional customer experience that Masthaven has been renowned for since it was founded in 2004 as a specialist lender. Masthaven’s bridging finance experts will continue to work with brokers, with a named specialist to personally handle each case individually.  

The bank has implemented a series of rate reductions and lowered valuation fees across each of its four bridging finance products. The products, which are FCA regulated, now have restricted legal fees and are offered with rolled-up interest.

Masthaven’s bridging finance offering:

Residential:

  • First Charge Bridging Loans - suitable for owner occupied or property investors, from £100,000 to £5,000,000;
  • Second Charge Bridging Loans - designed for anyone looking for second mortgage residential and investment property, from £100,000 to £1,000,000 over terms from one to 12 months;
  • Renovation and Refurbishment Bridging Loans - often used when high street funding for refurbishing or finishing is difficult to secure because of the current condition or state of the property;

Commercial:

  • First and Second Charge Bridging Loans – designed to be used to buy commercial property including shops and offices, until long-term finance can be arranged.

Richard Deacon, Sales & Marketing Director at Masthaven said “Becoming a bank provided us with the opportunity to restructure our bridging loans to be more competitive, whilst still maintaining the excellent customer service that we already deliver to our brokers and intermediaries. Our short term loans are adapted to suit each customer’s individual needs; a flexible solution for people who may not ‘tick’ the usual boxes.”

Masthaven announced its refreshed Bridging Finance product range as it launched as a new retail challenger bank in November 2016 and was covered in Bridging & Commercial